For many Americans, the episode was an exercise in anger management. Everything we've come to loathe about politics was on full display, and I've been tempted to ignore the entire sorry affair … except for the fact that the outcome has very real consequences for all us.
With that in mind, let's examine the law in detail, courtesy of a number of comprehensive analyses of the new law that are floating around out there.
- CCH's tax briefing: Always on the spot with legislative analyses, CCH takes a look at the law's tax implications, including the link between tax reform and deficit reduction, the fate of the AMT and the Bush-era tax cuts, and what it all means for corporate taxes.
- A debt deal cheat sheet, courtesy of CNN.com: It examines what happens now … and what happens next.
- A warning of more to come, courtesy of the Washington Post: With the immediate debt ceiling mess out of the way, attention now shifts to a new bipartisan panel “that will have the job of developing a broader plan to control the government’s debt,” writes Lori Montgomery. Prepare for more political games.
- The Christian Science Monitor asks the question of the day: What will debt-ceiling deal do to the fragile U.S. economy?
- Five things we don't know about the debt deal: In this video journal, Reuters Op-Ed Editor Jim Ledbetter walks us through his five main concerns with the new law.
- What the U.S. government can learn from business: This insightful article from the Harvard Kennedy School's Linda Blimes points to a key problem in the debt-reduction debate: Government lacks the basic tools to cut costs. Problem No. 1: Efficient cost-cutting first requires an understanding of what things cost.
There are a ton of other excellent analyses out there that I haven't mentioned here. What are some of your favorites?